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Small Business Pool balance falls below $20,000

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Ayo
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Ayo
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Small Business Pool balance falls below $20,000

For the 2015 year, when the SB Pool value falls below $20,000, it should be written off completely. The asset register doesnt do it automatically and still shows a balance. How can this be solved?

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MYOB Moderator Linda_K
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Linda_K
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Re: Small Business Pool balance falls below $20,000

Hi @Ayo,

 

Thank you for your post and welcome to the MYOB Community Forum.  We hope that you find it a valuable resource.

 

In regards to your query, this legislative change has been addressed in the latest AE Assets release version 3.4.4 which is available for the my.MYOB.com.

 

For more information, please refer to our release announcement published yesterday: Release Announcement: AE Reporter 3.4.4 and AE Assets 2.4.3 now available.

 

Hope this helps Smiley Happy

Cheers,

Linda
Practice Solutions Support
MYOB Australia Pty Ltd
Contributing Partner SHB
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SHB
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Re: Small Business Pool balance falls below $20,000

Hi Linda,

 

We are having a similar problem to Ayo and it appears some report in Assets 2.4.3 are depreciating the <$20k pool balance correctly while others are not.

 

The report under "Reports-Pools-SB General Pool Schedule" correctly writes off the balance but this report does not list the assets or present very well to clients.

 

The much better report under "Reports-Full Schedule" that lists all the assets and then the pools at the end of the report, is either in some cases writing off at the 30%, and in other cases for us not writing off at all.

 

Is this an issue at our end or is there something we need to do for those pools to write off correctly in the full report?

ElizabethW
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Australia
ElizabethW

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Re: Small Business Pool balance falls below $20,000

Dear Linda,

 

I am having the same problem. On every other report it is showing that my pool balance is zero except for the "Full Report" which is the one that I generally give to my clients. It is also showing the pool balance in properties as nil.

 

I have attached the SB Pool section of the "Full Report" to show you what it looks like.

 

Thank you,

 

Elizabeth

Former Staff SerenaB
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New Zealand
SerenaB
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Re: Small Business Pool balance falls below $20,000

Dear @ElizabethW and @SHB,

 

You are correct in that the SB Pool Report shows the correct Decline In Value and subsequent Pool Closing Balance and that the SB Pool section of the Full Report does not show the same information.

 

This is something MYOB have identified.  Please refer to KB 35428 for further details and to subscribe to notifications as to when this article is updated.

 

Regards,

Serena Barker
Practice Solutions - Client Accounting Product Specialist
MYOB Australia Pty Ltd
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